Representative introduces
a strategic #Bitcoin and crypto reserve bill in South Carolina

America is embracing Bitcoin



https://x.com/BitcoinMagazine/status/1905572018776334495?t=_m1y6S6eaZXvK2qqT0a9Fg&s=19

The deal with the IMF required El Salvador to stop recognising Bitcoin as a legal tender (i.e., requiring all businesses to accept bitcoin), which they did. But, as far as I know, they are still making regular Bitcoin purchases and definitely still hold the strategic Bitcoin reserve.

It's not 2 days ago but that was from last month where they bought 12 btc at $100K level. This was from the link you shared...


As per checking Arkham Intelligence website El Salvador keeps buying 1 bitcoin per day for its strategic reserve. Their government remains committed to accumulating it despite of many people being skeptical on Nayib's goal to establish their country as a crypto hub.

in summary of the IMF and el salv drama

el sav retailers/merchants had a legal demand to offer a payment system for customers whom want to buy goods/services via crypto(via chivo)
however in the drama of chivo wallet utility, it actually used LN not bitcoin network. so there were bugs, bottlenecks and processing issues. which both customers and merchants disliked the experience and blamed bitcoin over, there were protests and stuff whereby people and merchants didnt want to play around with chivo and thought that bitcoin was a bad thing(even though it was LN) people didnt want and were worried that it was a change over from $ to crypto as national currency and were unhappy with that thought

months later alot of merchants still held onto chivo devices but just didnt promote it as a means of payment, thus legally not disobaying the legal tender mandate, but just not promoting it (so yea.. thanks(sarcasm) LN for ruining the opportunity)

now onto the IMF
the IMF initially wanted el salv to stop BOTH merchant legal tender acceptance of crypto and stop the national government acquiring crypto for national reserve, in exchange to the IMF access of requesting loans from international members of the IMF

now for the compromise deal
the IMF would allow el salvador to have access to request loans from member states of the IMF if el salvador atleast stop making it mandatory for retailers/merchants to offer accepting crypto via chivo.. but the IMF would allow the national government to continue acquiring/accumulating crypto for national reserve, with a review to happen december 2025

el salv gov seen is as a fair compromise seeing as most merchants unofficially dropped chivo anyway. so a no harm no foul deal, el salv gets to request loans again

now we have to wait for december 2025 to see if the IMF pulls the other grenade pin regarding the national reserve, or if they allow el salv to have some sovereignty over what assets it wants to hold

If bitcoin cannot be used anymore then how can it become a crypto-hub like what Nayib wants to happen if businesses and their government itself won't accept their people and some tourists to pay in crypto? For me, it feels contradictory for the government to promote Bitcoin as a cornerstone of its economy while restricting its practical use for everyday financial obligations. Their own people not being able to use Bitcoin for important payments like bills or taxes undermines its role as a viable alternative to traditional currency. Why would they become motivated to use it if their own government doesn't acknowledge that as a form of currency. El Salvador shoud be the one to encourage widespread adoption and practical use of Bitcoin. Otherwise, it risks alienating the very community it’s trying to build.

You have some goofy ideas.

Who gives any shits about Donald Trump?

Sure, he has a lot of power and he is hated, but the fact that he and his administrative associates decided to highlight and to double down on bitcoin brings bitcoin into light.. even if it is a negative light, there is nothing that the bitcoin naysayers and the ones battling bitcoin can do to stop the momentum of bitcoin, whether Trump continues to support bitcoin or not or whether Trump tries to pervert bitcoin in various ways or not, it does not matter.

Bitcoin is becoming more known and considered by a lot of governments, institutions and individuals based on Trump's highlighting of it.  More and more governments and/or institutions are considering bitcoin strategic reserves whether they are publicly disclosing it or not and whether they publicly talk with hostility in regards to bitcoin or not, and in the USA since early 2024, companies, governments and even rich folks have been more and more able to onboard to bitcoin (at least bitcoin price exposure) through Bitcoin Spot ETFs...   - and more and more, spot bitcoin ETFs are being imitated in other parts of the world, too.. whether their market is as strong and/or whether some of the international entities also invest into various USA financialized products.

Folks, whether governments, institutions or individuals better get on the bitcoin train sooner rather than later if they do not want to get left behind and wondering what the fuck happened (which has been a repeated theme in bitcoin that is going to continue to repeat because so many people have dumb ideas like your own, Smartprofit).  It should be well understood by now, especially by longer term bitcoiners, that bitcoin rewards the earliest of adopters, and you are never late to bitcoin since bitcoin is going to continue to go up and pump forever, even if the slope of the upward curve is likely becoming less and less steep with the passage of time, and if you are getting distracted in to shiny metal rocks that are way inferior to bitcoin (perhaps only around 1/1000 the value of bitcoin), then you are going to have fun staying poor with the others who are either distracted into such shiny metal rock or who are not able to recognize and appreciate bitcoin as the prize that we should be seeking and making sure that we are allocated to.  

Even if you are pessimistic about bitcoin's upside, you should still make sure that you are not on zero, and surely some kind of allocation is better than none.  I frequently recommend beginners have 5% to 25% allocation to bitcoin, yet even if they choose on the lower end or even lower than what I recommend, they are likely going to be better off to have some allocation rather than none, and surely better not to be betting against bitcoin, which is really ongoingly retarded, even though some governments, institutions and individuals are going down such obviously losing (loser) path.

Don't take your eyes off the prize or lose track of what bitcoin is, to the extent that you even know what bitcoin is or the you even believe that bitcoin gives any shits about Trump or any other politician(s) or manipulator wannabes.

Sure, Trump and his cronies might try to co-opt bitcoin or to engage in other behaviors that might manipulate short-term bitcoin prices up or down, yet you are deluded if can't recognize and appreciate bitcoin's value apart from what various Johnny come lately players might do to pump our bags or to pump their bags and whether they are successful or not in such endeavors to pump bitcoin or any other related products, shitcoins or otherwise.

Of course, you are free to believe whatever you like and even to act upon such beliefs in terms of your own allocation decision, even if they are likely going to turn out to be dumb.  

If you had not noticed, we have one of the best, if not the best, of assets that is currently available to all people around the world and you want to get caught up in the belief (and even to propagate such nonsense) that Trump and his retards are actually going to take away from bitcoin's investment thesis?  

By the way, there are several aspects of Trump, his personality and his administration that I find problematic and even self-servingly destructive to various status quo systems, yet there are several aspects of his so far bitcoin strategy that make a lot of sense.. and are likely good for bitcoin whether Trump and his cronies are potentially being abusive with their own bitcoin involvement or not.. For example, Trump's recent disclosure (in the last week or so) that his affiliated company is launching some kind of a stable coins is quite ridiculous to think about the various ways that Trump and his folks are corrupt in self-serving ways (is there any other way to be corrupt?).

No matter your love or hate of Trump, you should be able to acknowledge that attention to bitcoin goes both ways in the current rises of bitcoin to the attention of various prominent people in the world.  Sure we cannot be sure how various matters are going to play out, including potential attempts of governments to try to manipulate bitcoin at various levels, and sure maybe it would be better to have hostility to bitcoin rather than less hostility, yet the hostility still exists, which you should be able to recognize repeating of earlier patterns, just on differing levels.. so bitcoin is continuing to exist within mixtures of hostility and non-hostility.. some of the hostility is overt and some of it is covert, yet on an individual level you likely are going to be better served by making sure that you are sufficiently/adequately allocated to bitcoin rather than getting distracted into shiny rocks or whatever your other seemingly nonsensical distractions might continue to be.

From the perspective of this here cat, based on your post, your potential wannabe striving for smartprofit is not coming off as very smart and/or focused on the right kinds of things.

I agree with coupable on some things that the United States, if necessary for their own interests, will wage war on some countries year after year. Their economies will be destroyed. So that that country will lag behind for at least 20 to 40 years. And they always want to keep the world under their own control. And if they set their eyes on natural resources and any resources in other countries, they will snatch those resources by any means, whether by force or not. Again, if there is any resource on the technological side, they will try to take it over. They can do anything to take over all the online currencies including Bitcoin.

X

I know this is not about strategic Bitcoin reserve but since it's still connected to bitcoin,I decided to bring it here.

Well if this tweet is confirm to be true,then we should be seeing  bitcoin price start pumping again.

Thanks for the updated link you provided,the information it carries really help a lot. At least it's now very clear to me that the tweets that's  circulating around is fake as the information it carries. US trade war is really affecting the price of Bitcoin negatively and Donald Trump who claims to be Bitcoin friendly doesn't care If his Trade wars is affecting the price of bitcoin or not. Recently they've been a slight increase in the price of bitcoin,One thing I can be sure of is that Bitcoin price will surely skyrocket again.yeah, am sure it's gonna happen as it has always been.

You should not easily believe social media posts especially if it's April 1 since it's known to be April Fools Day. Honestly, those people making fake news are quite annoying. They even make fun of some serious issues and try to disinform the public by making a joke or prank. It's so easy to spread disinformation nowadays with our technology. People can edit images and spread false news or even make a deepfake video of a certain individual that is saying something to create confusion.

What I do when I see those type of suspicious images or posts on social media is I fact-check it myself to prove if it's really true or not. You can easily find them on social media if they are a famous person. Check the date posted you saw and find that on his page to see if it was really posted.by him. Searching on google about the topic will also help if news outlets verifies it.